Who doesn’t love a good deal on a rental property? It is absolutely delightful to buy, flip and then rent out a property. A one true business love of many an investor, rental properties allow several benefits like purchase leverage, direct investment management opportunity, ability to garner greater returns, and constant demand, to name a few.
Sensible, predictable, and stable, investing in rental properties is an opportunity that should be taken advantage of right away in Edmonton. Quarterly statistics conducted by the Realtors Association of Edmonton shows a clear rise in unit sales in residential listings, while family house prices have dropped 0.97% since December last year. Condo and row house prices have increased by 8.7% and 8% respectively compared to January 2016.
Here are some top reasons why rental properties in Edmonton make such a great investment.
Rental properties create a welcome opportunity to make the most of the tax incentives. Reduce the amount of tax you owe by deducting expenses like property tax, property management, mortgage interest, insurance, utility bills (if included in the rent), regular maintenance or upgrades made to the property.
Demand for rental properties is on the rise with 45.36% people inquiring into renting properties from up to $500 to $2,800 a month in Edmonton. By investing in a rental property you’re certain to get a steady income. Additionally, millennial culture has driven demand in properties that suit single or young couples.
Landlords are absolutely involved and completely responsible for the outcome of your investment. Make sure you analyze the property well before investing. Ensure the place is in top notch condition to rent out with all fixtures and features in good condition.
An investor’s failsafe
For years now people have made a living off renting properties out either to families, or single individuals looking for temporary space in the city. As an investor, you can choose to buy anything from either a single family house to large multifamily apartment or an office or commercial space or building. The options are innumerable and possibilities endless.